McDonald's Shares Quiet Amid Mixed Same-Store Sales Results for January
In a press release on Monday, McDonald's (NYSE: MCD) reported that global comparable sales increased 1.2% in January.
The United States segment took a hit, down 3.3% versus the estimated 1.6%. Management commented that U.S. comps decreased due to “broad-based challenges” including severe weather. The press release states that McDonald's focused on pushing breakfast and the Dollar Menu & More value options in January. The company wrote, “Across the U.S., McDonald's is focused on regaining positive momentum with customer engagement, menu choice and operations excellence initiative designed to enhance the customer experience.”
Europe's comparable sales increased 2.0% versus the estimated 1.3%. McDonald's reported that Germany's negative results slightly offset the positive performance in the United Kingdom and France. The company emphasized a “customer-focused approach that incorporated menu variety, everyday affordability and daypart expansion.”
In the Asia/ Pacific, Middle East and Africa (APMEA), sales increased 5.4% mainly driven by strong results in China, Japan, and Australia. APMEA sales crushed the 2.0% estimate. The press release noted the timing shift of the Chinese New Year and the “residual effects of consumer sensitivity related to the prior year supply chain issue in the chicken industry.” McDonald's also announced the opening of its first restaurant in Vietnam on Monday. This store marks the 10,000th restaurant in the APMEA region.
McDonald's will release February 2014 sales on March 10, 2014.
Shares of McDonald's closed at $95.92 on Friday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.